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Monday, June 17, 2019

Loukas Barmparis News

Image: Safe Bulkers, Inc

Safe Bulkers Acquires a Post-Panamax Class Dry-Bulk Vessel

Safe Bulkers, an international provider of marine dry-bulk transportation services, announced today that it has acquired a 92,000 dwt, South Korean 2010 built, dry-bulk, Post-Panamax class vessel at an attractive price. The vessel is a sistership of the Company’s two existing South Korean Post-Panamax class vessels. The acquisition was financed from cash on hand. Dr. Loukas Barmparis, President of the Company commented: “In parallel with the optimization of our capital structure our Board has decided to invest in a second hand vessel which we believe it will be accretive to our revenues.

Photo: Safe Bulkers, Inc

Safe Bulkers to Amend Loan Pact with RBS

Safe Bulkers, Inc., an international provider of marine drybulk transportation services,  has agreed with the Royal Bank of Scotland plc (RBS) to amend certain financial covenants and terms to an existing term loan facility with an outstanding balance of US $73.4 million. The total consolidated liabilities of the Company divided by its total consolidated assets charter inclusive must not exceed 90% until and including year-end 2017 and 85% from 2018 onwards. The ratio of the Company's EBITDA(1) to its interest expense must be not less than 2.0:1 on a trailing 12 month basis…

Safe Bulkers Agrees to Amend Term Loan Facility

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, has announced  that the company has agreed with Danish Ship Finance, to amend certain financial covenants and terms to its existing credit facility with an outstanding balance of US $40.0 million. The total consolidated liabilities of the company divided by its total consolidated assets charter inclusive must not exceed 90% until and including year-end 2017 and 85% from 2018 onwards. The ratio of the company’s EBITDA1 to its interest expense must be not less than 2.0:1 on a trailing 12 month basis…

Greece's Safe Bulkers Weather Challenging Financial Conditions

Bulk carrier owners & charterers Safe Bulkers, Inc. reports results for the third quarter and the first nine months of 2012, pays reduced dividend. Net revenue for the third quarter of 2012 increased by 10.1% to $46.8 million from $42.5 million during the same period in 2011. Net income for the third quarter of 2012 increased by 4.5% to $20.7 million from $19.8 million during the same period in 2011. Adjusted net income1 for the third quarter of 2012 decreased by 12.0% to $22.8 million from $25.9 million during the same period in 2011.

Greek Bulkship Owner Increases Revenue in H1 2012

Safe Bulkers, Inc. As of July 31, 2012, the Company’s current fleet was comprised of 21 drybulk vessels with an average age of 4.2 years and the Company had contracted to acquire eight newbuild drybulk vessels with deliveries scheduled at various times through 2014. Dr. Loukas Barmparis, President of the Company, said: "Charter market conditions are challenging, while bank financing is generally scarce. Our revenues in the current depressed charter market have been supported by agreements entered into during earlier periods.